PRECIS#1: The Ever Changing Role of Marketing in the Corporation
Some people believe that just by being in business they will get clients or customer. They ascribe to the theory that “if they build it they will come”. It rarely happens that way. If you don’t let people know about your business, not only do you lose but so do they. This is where marketing comes in. Tracing back the history of marketing it is evident that managerial implication has only started in the late 1950’s whereas marketing as an area of study has started back in 1910.
Strategically, the business must be centered on the customers more than the products. Although good and quality products are also essential, the buying public has still their personal references. If you target more on their needs, they will come back again and again and even bring along recruits. If you push more on the product and disregard their wants and benefits they can get, you will lose your customers in no time. The sad thing is that getting them back is the hardest part.
Because of the recognition of the world-wide-web, companies are forced to market outside their nations that makes international marketing significant in a firm's marketing strategy. Because of the broader reach that is afforded to companies via world-wide-web, the significance of managing marketing resources can't be overemphasized. Just like the current industry I am working with, the company serves as an online stock broker that provides a trading platform for clients’ world wide to do online trading. It amazes me how they work on their marketing in order to generate leads worldwide and the latest technology online like using Google Analytics as a tool for marketing.
Marketing management usually entails analysis. It is the application of marketing strategies in an efficient as well as sensible way. It is also the administration of the firm's marketing activities as well as resources so they can be utilized...